London: Oil prices conclude the week in the green on Friday, pushed by sanctions against Russia and an improvement in the balance between supply and demand for black gold forecast by the American Energy Agency (EIA). ). Around 11:05 GMT (12:05 CET), the price of a barrel of Brent BRENT Brent, or North Sea crude, is a variation of crude oil serving as a benchmark in Europe, listed on the InterContinentalExchange (ICE), a stock exchange specializing in energy trading. It became the first international standard for setting oil prices. from the North Sea, for delivery in February, takes 1,14% has 74,25 dollars.
Its American equivalent, the barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variation of crude oil that serves as a standard in setting the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange). ), the stock exchange specializing in energy.), for delivery in January, wins 1,23%has 70,88 dollars.
The intensification of European Union sanctions against Russia continues to push up oil prices, especially as “the United States hints that it could join“, giving rise to the idea of a drop in Russian exports, explains John Evans, analyst at PVM.
On Wednesday, EU member countries agreed to sanction around 50 additional vessels from the “ghost fleet“, which allows Russia to export its oil by circumventing Western restrictions.
Made up of around 600 ships, the “ghost fleet“Russian carries almost 1.7 million barrels of oil per day, London estimated in July.
Added to the sanctions is Donald Trump’s desire to pursue a policy of “maximum pressure“on Iran. During his previous mandate, “he reduced Iranian oil exports to near zero by exiting the Iran nuclear deal and applying maximum sanctions“, recalls Bjarne Schieldrop, analyst at SEB.
Moreover, “the forecasts of the International Energy Agency (IEA) contrast with those of the American Energy Information Administration (EIA), which expects a balanced market” in his report published this week, underlines John Plassard, analyst at Mirabaud.
U.S. crude oil inventories outside the strategic reserve declined by 26 million barrels between June 30 and December 6, according to EIA data. An indicator that signals a future increase in demand.
(c) AFP
Commenter Oil pushed by intensifying sanctions against Russia
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